Mortgage and Stamp Duty Advice (LBTT) Scotland

[scotlandtim]

Hi.

Looking for some advice:

About to sell current property and buy a new one. New one has an attached Paddock (approx 2.5 acres)


If I buy the whole thing as residential - then I'm going to pay a lot in LBTT. if I can buy the paddock separately as non residential then i look to save over 5 figures in tax.

Anyone experienced in this and willing to offer advice. happy to pay for the right advice

Also - Can you recommend me a broker? I have a mortgage AIP for new property, but am sure the right broker could find me a better deal.

Buying and Selling in Scotland if that makes any difference.
Thanks

[Sarnie]

scotlandtim said:

Hi.

Looking for some advice:

About to sell current property and buy a new one. New one has an attached Paddock (approx 2.5 acres)


If I buy the whole thing as residential - then I'm going to pay a lot in LBTT. if I can buy the paddock separately as non residential then i look to save over 5 figures in tax.

Anyone experienced in this and willing to offer advice. happy to pay for the right advice

Also - Can you recommend me a broker? I have a mortgage AIP for new property, but am sure the right broker could find me a better deal.

Buying and Selling in Scotland if that makes any difference.
Thanks

You would need to ensure that the house and paddock are on separate titles, if they are then you can buy and mortgage the house and you'd have to buy the paddock for cash.......

I can help if you want to drop me a mail

[scotlandtim]

Thanks Sarnie - PM sent